Sunday, December 31, 2017

Sunday roundup (Dec. 31, 2017)

North Korea Threat: Nuclear War With U.S. Closer Than Ever, Retired Admiral Says (Newsweek)

Iran's protests are powerful and real. Why are mainstream media outlets so hesitant to report on them? (FoxNews)

For Trump, a Year of Reinventing the [United States] Presidency (The New York Times)

     The aim of this blog is to show (mostly from reports in mainstream respected news sources) that there is reason to believe that both the United States and the global economies remain fragile in the wake of the financial crisis of 2008 and that a number of threats exist today that could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. Key threats include excessive risk-taking by financial firms, unchecked by effective regulation; the continued existence of "too big to fail" institutions; and most especially, the amassing of levels of public and private debt which could become unsustainable.

Saturday, December 30, 2017

Saturday roundup (Dec. 30, 2017)

Here's What's Behind Iran's Biggest Protests In Seven Years: What started as small protests against poor economic conditions had by Friday spiraled into widespread demonstrations against the government and clashes with police. (BuzzFeedNews) What's at play in Iranian protests? (CNN)













Russian tankers fueled North Korea via transfers at sea - sources (Reuters)







December 2017: Unofficial Problem Bank list declines to 103 Institutions, Q4 2017 Transition Matrix (Calculated Risk blog)

Donald Trump Is a Consequential President. Just Not in the Ways You Think.: What mattered and what didn’t in Trump’s first year. (Politico)

Trump Says He Has An ‘Absolute Right’ To Control The Justice Department: In a New York Times interview, the president said more than a dozen times that there was no collusion with Russia during the presidential campaign. (The Huffington Post)







     The aim of this blog is to show (mostly from reports in mainstream respected news sources) that there is reason to believe that both the United States and the global economies remain fragile in the wake of the financial crisis of 2008 and that a number of threats exist today that could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. Key threats include excessive risk-taking by financial firms, unchecked by effective regulation; the continued existence of "too big to fail" institutions; and most especially, the amassing of levels of public and private debt which could become unsustainable.

Friday, December 29, 2017

Friday roundup (Dec. 29, 2017)

Why Much Is at Stake in Italy's March 4 Elections (Bloomberg)

The Next Financial Crisis Will Be Worse Than the Last One by Nomi Prins (Truthdig)

3+ months after Maria, barely half of Puerto Rico has power (The Associated Press) Parts of Puerto Rico Won’t Have Power for 8 Months. What’s the Holdup? (The New York Times)




     The aim of this blog is to show (mostly from reports in mainstream respected news sources) that there is reason to believe that both the United States and the global economies remain fragile in the wake of the financial crisis of 2008 and that a number of threats exist today that could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. Key threats include excessive risk-taking by financial firms, unchecked by effective regulation; the continued existence of "too big to fail" institutions; and most especially, the amassing of levels of public and private debt which could become unsustainable.

Thursday, December 28, 2017

Thursday roundup (Dec. 28, 2017)

Americans have more credit cards - and more debt, says CFPB (CNBC)

It’s Been One of the Worst Years Ever for Billion-Dollar U.S. Weather Disasters (Bloomberg) In Houston, Thousands Remain Displaced As Harvey Recovery Continues (National Public Radio)







How Trump is rolling back Obama's legacy (FoxNews)

Trump, the Insurgent, Breaks With 70 Years of American Foreign Policy: President Trump has transformed the world’s view of the United States from an anchor of the international order into something more inward-looking and unpredictable. (The New York Times) America and the Great Abdication: Don’t mistake Donald Trump’s withdrawal from the world for isolationism. (The Atlantic)










Alabama Certifies Jones Win, Brushing Aside Challenge From Roy Moore (The New York Times) Here's why Roy Moore will never concede (CNN)




     The aim of this blog is to show (mostly from reports in mainstream respected news sources) that there is reason to believe that both the United States and the global economies remain fragile in the wake of the financial crisis of 2008 and that a number of threats exist today that could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. Key threats include excessive risk-taking by financial firms, unchecked by effective regulation; the continued existence of "too big to fail" institutions; and most especially, the amassing of levels of public and private debt which could become unsustainable.

Initial jobless claims (Weekly report, 12-28-17)

The purpose of this weekly post is to watch how initial jobless claims in the United States are trending (up or down) and to keep track of whether the numbers are holding below 500,000, which would indicate at least the appearance of a fairly healthy economic situation.

According to the report released today:

"The numbers: Initial U.S. jobless claims, a tool to measure layoffs, were unchanged at 245,000 in the seven days ended Dec 23." (Marketwatch)

SEE LAST WEEK'S POST HERE.

     The aim of this blog is to show (mostly from reports in mainstream respected news sources) that there is reason to believe that both the United States and the global economies remain fragile in the wake of the financial crisis of 2008 and that a number of threats exist today that could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. Key threats include excessive risk-taking by financial firms, unchecked by effective regulation; the continued existence of "too big to fail" institutions; and most especially, the amassing of levels of public and private debt which could become unsustainable.

Wednesday, December 27, 2017

Wednesday roundup (Dec. 27, 2017)

John McDonnell warns over 'alarming increase' in UK household debt: Labour analysis finds unsecured borrowing could exceed £19,000 per household by end of parliament (The Guardian)

You’re on your own now [in the United States as consumer bureau changes] (The Reformed Broker blog)

Barack Obama, Hillary Clinton Retain Most Admired Titles (Gallup News)










     The aim of this blog is to show (mostly from reports in mainstream respected news sources) that there is reason to believe that both the United States and the global economies remain fragile in the wake of the financial crisis of 2008 and that a number of threats exist today that could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. Key threats include excessive risk-taking by financial firms, unchecked by effective regulation; the continued existence of "too big to fail" institutions; and most especially, the amassing of levels of public and private debt which could become unsustainable.

Tuesday, December 26, 2017

Tuesday roundup (Dec. 26, 2017)

Breaking the Sovereign-Debt Doom Loop: There's another bit of unfinished business in the new Basel III bank-capital rules. (BloombergView)













[United States House Speaker] Paul Ryan wants to cut entitlements to trim the deficit, but political reality stands in his way (CNBC)

Plight of Mexican journalist is why Trump should rethink immigration policy [Editorial] (The Houston Chronicle)







Carl Bernstein: FBI isn't tainted, Trump's presidency is (The Hill)




Where is Trump’s Cabinet? It’s anybody’s guess.: Agency heads are carrying out the Trump administration's agenda largely in secret, in many cases shielding their schedules from public view. (Politico)

     The aim of this blog is to show (mostly from reports in mainstream respected news sources) that there is reason to believe that both the United States and the global economies remain fragile in the wake of the financial crisis of 2008 and that a number of threats exist today that could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. Key threats include excessive risk-taking by financial firms, unchecked by effective regulation; the continued existence of "too big to fail" institutions; and most especially, the amassing of levels of public and private debt which could become unsustainable.

Monday, December 25, 2017

Sunday-Monday roundup (Dec. 24-25, 2017)

US secures $285M cut in UN budget (The Hill)

AT&T Announces Thousands of Layoffs, Firings Just in Time for Christmas (Newsweek)

     The aim of this blog is to show (mostly from reports in mainstream respected news sources) that there is reason to believe that both the United States and the global economies remain fragile in the wake of the financial crisis of 2008 and that a number of threats exist today that could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. Key threats include excessive risk-taking by financial firms, unchecked by effective regulation; the continued existence of "too big to fail" institutions; and most especially, the amassing of levels of public and private debt which could become unsustainable.

Saturday, December 23, 2017

Saturday roundup (12-23-2017)



















     The aim of this blog is to show (mostly from reports in mainstream respected news sources) that there is reason to believe that both the United States and the global economies remain fragile in the wake of the financial crisis of 2008 and that a number of threats exist today that could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. Key threats include excessive risk-taking by financial firms, unchecked by effective regulation; the continued existence of "too big to fail" institutions; and most especially, the amassing of levels of public and private debt which could become unsustainable.

Friday, December 22, 2017

Friday roundup (12-22-2017)



















     The aim of this blog is to show (mostly from reports in mainstream respected news sources) that there is reason to believe that both the United States and the global economies remain fragile in the wake of the financial crisis of 2008 and that a number of threats exist today that could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. Key threats include excessive risk-taking by financial firms, unchecked by effective regulation; the continued existence of "too big to fail" institutions; and most especially, the amassing of levels of public and private debt which could become unsustainable.

Thursday, December 21, 2017

Thursday roundup (12-21-2017)

UN denounces US recognition of Jerusalem as Israeli capital (The Associated Press)







[The United States] Congress Passes Stopgap Bill to Avoid Government Shutdown Against a Friday Deadline (The New York Times)

State officials panicked over children’s health program: Several states have already notified enrollees that their coverage could be terminated at the end of January unless Congress acts in the coming days. (Politico)

EPA says Superfund Task Force left behind little paper trail (The Associated Press)

     The aim of this blog is to show (mostly from reports in mainstream respected news sources) that there is reason to believe that both the United States and the global economies remain fragile in the wake of the financial crisis of 2008 and that a number of threats exist today that could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. Key threats include excessive risk-taking by financial firms, unchecked by effective regulation; the continued existence of "too big to fail" institutions; and most especially, the amassing of levels of public and private debt which could become unsustainable.

Initial jobless claims (Weekly report, 12-21-17)

The purpose of this weekly post is to watch how initial jobless claims in the United States are trending (up or down) and to keep track of whether the numbers are holding below 500,000, which would indicate at least the appearance of a fairly healthy economic situation.

According to the report released today:

"Initial U.S. jobless claims, a tool to measure layoffs, rose by 20,000 to 245,000 in the week ended Dec. 16." (Marketwatch)

SEE LAST WEEK'S POST HERE.

     The aim of this blog is to show (mostly from reports in mainstream respected news sources) that there is reason to believe that both the United States and the global economies remain fragile in the wake of the financial crisis of 2008 and that a number of threats exist today that could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. Key threats include excessive risk-taking by financial firms, unchecked by effective regulation; the continued existence of "too big to fail" institutions; and most especially, the amassing of levels of public and private debt which could become unsustainable.

Wednesday, December 20, 2017

Wednesday roundup (12-20-2017)

Britain might need to raise tax revenues to fix deficit - IMF (Reuters)

Sweeping tax overhaul clears Congress (The Washington Post)










Trouble brewing as GOP struggles with spending bill votes (The Hill) 2 days away, Republicans still don't have a plan to avoid shutdown (CNN)

Haley Warns UN That Trump Is Watching Jerusalem Votes (Bloomberg) Donald Trump threatens to cut aid to countries over UN Jerusalem vote (The Guardian)



















Student loan defaults on the rise (WBBH)

Deutsche Bank to cut up to 1,000 jobs in Postbank integration (Reuters)

     The aim of this blog is to show (mostly from reports in mainstream respected news sources) that there is reason to believe that both the United States and the global economies remain fragile in the wake of the financial crisis of 2008 and that a number of threats exist today that could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. Key threats include excessive risk-taking by financial firms, unchecked by effective regulation; the continued existence of "too big to fail" institutions; and most especially, the amassing of levels of public and private debt which could become unsustainable.

Tuesday, December 19, 2017

Tuesday roundup (12-19-2017)

Only 24 percent of Americans think the GOP tax plan is a good idea, NBC/WSJ poll says (CNBC) Most Americans think Democrats would do a better job handling economy, despite success under Trump (CNBC) Poll: Public sours on GOP tax plan as Democrats regain lead on economy (NBCNews)




GOP tax plan: Senate to vote Tuesday night, House to revote Wednesday (CNN) What's in the GOP's final tax plan (CNNMoney) Public opposition to tax bill grows as vote approaches (CNN)

The real reason Trump allies are attacking Mueller: Sowing public doubt about the special counsel's Russia investigation can give the president cover for pardons, even if the investigation is allowed to proceed. (Politico)




Senate Panel Rejects Trump’s Nominee to Lead Ex-Im Bank (The New York Times) Senate Committee Rejects Trump Nominee After Intense Opposition From Big Business: Scott Garrett says he wants to run the Export-Import Bank. But he once wanted to shutter it. (The Huffington Post)




     The aim of this blog is to show (mostly from reports in mainstream respected news sources) that there is reason to believe that both the United States and the global economies remain fragile in the wake of the financial crisis of 2008 and that a number of threats exist today that could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. Key threats include excessive risk-taking by financial firms, unchecked by effective regulation; the continued existence of "too big to fail" institutions; and most especially, the amassing of levels of public and private debt which could become unsustainable.

Monday, December 18, 2017

Monday roundup (12-18-2017)

The ‘everything bubble’ is about to burst, but is the world prepared? [paywall article by Ambrose Evans-Pritchard of The Telegraph via] (The National Post) The Global Economy Is Partying Like It’s 2008 (The New York Times) Is Another Debt Crisis On the Way? (Project Syndicate)




House GOP’s New Strategy May Cause a Pre-Christmas [United States] Government Shutdown (New York) GOP leaders in House, Senate endorse conflicting shutdown strategies: Time is running out, giving rise to quiet concerns that the government could shut down after Friday. (Politico)

The Republican tax bill got worse: now the top 1% gets 83% of the gains: In its last year [= 2027], the bill raises taxes on more than 53 percent of Americans. (Vox) A Tax Plan to Turbocharge Inequality, in 3 Charts (The New York Times) Trump, Real Estate Investors Get Late-Added Perk in Tax Bill (Bloomberg) Populist Plutocracy and the Future of America: Trump has consistently sold out the blue-collar, socially conservative whites who brought him to power, while pursuing policies to enrich his fellow plutocrats. What might he do to keep the "base" on his side? by Nouriel Roubini [Project Syndicate via] (Moyers and Company)













Top Republicans are already talking about cutting Medicare and Social Security next: The idea of cutting popular programs in an election year has vulnerable Republicans asking, why not infrastructure? (Vox)

Trump risks losing what’s left of his populist street cred with GOP tax bill (The Washington Post)

Trump Security Strategy a Study in Contrasts: The president’s first national security strategy eloquently sums up the U.S. role in the world and what should be done to defend it, but much of the document is at odds with what the president himself believes. (The Council on Foreign Relations)

Washington Bureaucrats Are Quietly Working to Undermine Trump’s Agenda: Across the government, career staffers are finding ways to continue old policies, sometimes just by renaming a project. (Bloomberg)




Trump predicts exoneration in Russia investigation as allies fear a 'meltdown' (CNN) [versus] Trump privately calling Rosenstein a threat to his presidency: report (The Hill)

Trump Judicial Nominee Drops Out After Embarrassing Hearing: Matthew Petersen is the president’s third court pick to crash and burn over not being qualified to be a federal judge. (The Huffington Post)

The Next Crisis for Puerto Rico: A Crush of Foreclosures (The New York Times)

     The aim of this blog is to show (mostly from reports in mainstream respected news sources) that there is reason to believe that both the United States and the global economies remain fragile in the wake of the financial crisis of 2008 and that a number of threats exist today that could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. Key threats include excessive risk-taking by financial firms, unchecked by effective regulation; the continued existence of "too big to fail" institutions; and most especially, the amassing of levels of public and private debt which could become unsustainable.

Sunday, December 17, 2017

Sunday roundup (12-17-2017)

[In the United States,] Trump says he has no intention to fire special counsel Mueller (CNBC) 3 Ways Trump Or His Allies Might Try To Disrupt The Mueller Russia Probe (National Public Radio)

Poll: Half of voters want Democrats to control Congress (The Hill)




Comcast and Charter want Congress to put net neutrality repeal into law (BGR) Comcast, Verizon, and AT&T want Congress to make a net neutrality law because they will write it [July 12] (The Verge)

Washington Federal Bank for Savings in Chicago IL had a troubled assets ratio of 0 percent [Dec. 15] (BankTracker) Customers may actually lose uninsured deposits in latest failure (AmericanBanker)

     The aim of this blog is to show (mostly from reports in mainstream respected news sources) that there is reason to believe that both the United States and the global economies remain fragile in the wake of the financial crisis of 2008 and that a number of threats exist today that could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. Key threats include excessive risk-taking by financial firms, unchecked by effective regulation; the continued existence of "too big to fail" institutions; and most especially, the amassing of levels of public and private debt which could become unsustainable.

Saturday, December 16, 2017

Saturday roundup (12-16-2017)







[In the United States,] Trump’s Numbers Near a Tipping Point: Things fell apart for Nixon when he dropped below 30 percent approval in his second term. Trump is getting there in his first year. (The Daily Beast)

“Nikki Haley Stuck a Knife in His Back”: Roger Stone Predicts Trump’s Downfall: One of Trump’s closest allies believes the president could be removed from office by disloyal Cabinet members—and he’s writing a book about it. (VanityFair)

Democrat: Rumor is Trump could fire Mueller before Christmas (The Hill blogs) Rep. Speier: ‘Rumor on the Hill’ is Trump to Fire Mueller Before Christmas (KQED)



















Historic tax reform vote lined up with GOP bill finalized: Ryan says House will vote Tuesday as Republicans make final push to get plan to Trump. (Politico)

Republicans 'turned their back' on Puerto Rico with tax bill, island governor says: “It is unconscionable that Congress would do this at this juncture,” Rosselló said in a telephone interview from San Juan, Puerto Rico with NBC News. (NBCNews)

Donald Trump And GOP Leaders Could Be Enriched By Last Minute Tax Break Inserted Into Final Bill (International Business Times)







Why Republicans shouldn’t be so optimistic their tax bill will be a big win (The Washington Post blogs)

State attorneys general line up to sue FCC over net neutrality repeal: Net neutrality supporters will try to reinstate the rules in courts and Congress. (ArsTechnica)

E.P.A. Contractor Has Spent Past Year Scouring the Agency for Anti-Trump Officials (The New York Times)

After Alabama loss, Trump has ambitious plans to campaign in 2018 midterms (The Washington Post)

Winds fuel California wildfire, state's third-largest on record (Reuters) Hundreds of homes in Montecito threatened as winds push Thomas fire toward coast; new evacuations (The Los Angeles Times)

Sears is teetering on the edge of bankruptcy and Kmart could be its first casualty (The Business Insider)

     The aim of this blog is to show (mostly from reports in mainstream respected news sources) that there is reason to believe that both the United States and the global economies remain fragile in the wake of the financial crisis of 2008 and that a number of threats exist today that could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. Key threats include excessive risk-taking by financial firms, unchecked by effective regulation; the continued existence of "too big to fail" institutions; and most especially, the amassing of levels of public and private debt which could become unsustainable.

Friday, December 15, 2017

Friday roundup (12-15-2017)

EU sets bank union, ESM as euro zone overhaul priorities (Reuters)

Russia hit by $3.4 billion Promsvyazbank bailout in latest bank blow (Reuters)

Household finances are worse [in the UK] since Brexit vote, says Bank of England: Study of over 6,000 households found an increase in people reporting high mortgage debt, repayment costs and rents (The Guardian) Renters squeezed hard as households lose optimism, Bank of England says (The Telegraph)

Nazareth mayor cancels Christmas celebration over Trump's Jerusalem decision (The Hill)

Sin Luz: Life without Power [= update on Puerto Rico] (The Washington Post)

More people than ever are defaulting on student loans — and it could put the US economy at risk (The Business Insider)

The final GOP tax bill is complete. Here’s what is in it. (The Washington Post) GOP releases its final tax plan — here's what's in it (CNBC) Final GOP tax bill would increase deficits by just under $1.5 trillion, early congressional estimate says (CNBC) Republicans on the verge of tax victory as Corker, Rubio fall in line with GOP (CNBC)




Trump turning US into 'world champion of extreme inequality', UN envoy warns: Special rapporteur Philip Alston, fresh from fact-finding tour, issues devastating critique of US society and condemns ‘private wealth and public squalor’ (The Guardian)

A senator stumped a judicial nominee with basic legal questions. Here are the answers (The Los Angeles Times) Trump’s push to fill courts with conservative judges hits first speed bump (The Washington Post)

President Trump Escalates Criticism of F.B.I. Role in Russia Inquiry (The New York Times) President Trump and Sessions disagree on president's criticism of FBI (USAToday)

Trump allies say Tillerson has ‘not learned his lesson’ and cannot continue in job for long (The Washington Post)







Legal experts warn President Trump: Let Robert Mueller be (The Boston Herald)










Trump’s Lies vs. Obama’s (The New York Times)







Americans pessimistic about Trump, country: AP-NORC Poll (The Associated Press)







Fans of Trump’s friendliest news network are turning on him (The Washington Post)

Gutting Net Neutrality Is the Trump Administration’s Most Brutal Blow to Democracy Yet: This cannot be the end of a free and open Internet. Activists must fight on in the courts, in Congress, and in the streets. (The Nation)

While you’re looking the other way, Trump is changing America for decades to come: The president’s incendiary tweets and the Russia scandal distract us from decisions that are reshaping the internet, the environment and democracy (The Guardian)

Keller administration [in Albuquerque, New Mexico] faces budget deficit (KOB)

Disney-Fox Merger Likely to Kill Thousands of Hollywood Jobs, Analysts Say: Cutting redundant jobs is “a given at this point” (TheWrap) Disney-Fox Deal: 5,000 To 10,000 Jobs Will Likely Be Shed: Analyst (Deadline)

     The aim of this blog is to show (mostly from reports in mainstream respected news sources) that there is reason to believe that both the United States and the global economies remain fragile in the wake of the financial crisis of 2008 and that a number of threats exist today that could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. Key threats include excessive risk-taking by financial firms, unchecked by effective regulation; the continued existence of "too big to fail" institutions; and most especially, the amassing of levels of public and private debt which could become unsustainable.

Thursday, December 14, 2017

Thursday roundup (12-14-2017)

Bank of England holds rates, hints that more hikes could be on their way (The Business Insider)

[In the United States,] Republican Tax Bill Faces New Uncertainty Ahead of Expected Vote (The New York Times) Rubio comes out against GOP tax bill, passage uncertain (NBCNews) John McCain [another key GOP vote] described as increasingly frail, Senate sources say (CNN)




Democrats cool to Trump’s infrastructure pitch: Officials likely have their work cut out for them in wooing Democrats after a year of partisan bickering over nominations, health care and taxes. (Politico)

Grassley: Two controversial federal bench nominees won’t be confirmed (The Washington Post)




EPA chemical safety nominee drops out amid strong opposition (The Associated Press) Another Trump Nominee Drops Out: EPA chemical safety nominee Michael Dourson, who has ties to the chemical industry and writes “science-Bible stories," has just withdrawn his nomination. He’s at least the 39th Trump nominee to drop out of consideration for federal government positions. (BuzzFeedNews)

F.C.C. Repeals Net Neutrality Rules (The New York Times) The FCC has reversed a 2015 rule that could change how you access and pay for internet service (CNBC) Net neutrality repeal: Facebook, Amazon, Netflix and internet providers react (CNNMoney) Republican Senator to Ajit Pai: Ending Net Neutrality ‘Would Cause Immediate Harm’: Susan Collins becomes the first Republican Senator to send a strong message to keep net neutrality protections in place. (Motherboard) [Letter] (The United States Senate)




Trump relishes progress on rolling back federal rules (The Washington Post)

Teva Pharmaceuticals to Cut 25% of Jobs in Huge Reshaping (The New York Times) Teva To Cut 14,000 Jobs, Suspend Dividend (RTTNews)

Cenovus Energy plans to cut 500 to 700 jobs in 2018 (The Canadian Press)

     The aim of this blog is to show (mostly from reports in mainstream respected news sources) that there is reason to believe that both the United States and the global economies remain fragile in the wake of the financial crisis of 2008 and that a number of threats exist today that could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. Key threats include excessive risk-taking by financial firms, unchecked by effective regulation; the continued existence of "too big to fail" institutions; and most especially, the amassing of levels of public and private debt which could become unsustainable.